Numerous devices have been previously developed for identifying documents and determining their authenticity. Likewise, devices have been previously developed for determining the denomination and authenticity of bank and currency notes. Such devices commonly test different properties of a presented note and based on the properties sensed, give an indication of the denomination and/or authenticity of the presented note. All such prior art devices have limitations.
Many prior art devices require precise alignment of the note during sensing of its properties. This requires the device to include a mechanism to align the notes and often limits the speed at which the notes can be processed. In addition, some devices require that presented notes be oriented in a particular way as they are sensed. This limits their usefulness as notes are often not presented in a uniform orientation.
Many prior art devices for determining note denomination and validity are capable of processing only a small number of note types. This presents drawbacks as other note types cannot be processed. Such prior art devices are also generally made to be used with only one type of currency such as the currency of a particular country. Often it is difficult or impossibl e to adapt such devices to handle currencies of countries which have different physical properties. Furthermore, it may be difficult to adapt such devices to a new printing series of notes within the same country.
Many prior art devices are also amenable to compromise by counterfeit notes. It is becoming easier to produce highly a ccur ate counterfeit reproductions of currency. By mimicking the properties of a note that are tested by prior art currency denominators and validaters, it is often possible to have counterfeit notes accepted.
To minimize the risk of acceptance of counterfeits, the range of the acceptance criteria in prior art devices can often be set more closely. However, currency notes in circulation change properties through use fairly quickly. Notes in circulation may change their properties through handling and wear. Notes may become dirty or marked with ink or other substances. Notes may also lose their color due to having been mistakenly washed with clothing or exposed to water or sun lght . Prior art currency denominators and validaters may reject valid notes which exhibit such properties when the criteria for acceptance is set too tightly.
Note denominators and validaters currently available may also be difficult to program and calibrate. Such devices, particularly if they must have the capability of handling more than one type of note, may require significant effort to set up and program. In addition, such devices may require initial calibration and frequent periodic recalibration and adjustment to maintain a suitable level of accuracy.
Prior art note denominators and validaters, particularly those having greater capabilities, often occupy significant physical space. This limits where they may be installed. In addition, such devices also often have a relatively high cost which limits their suitability for particular uses and applications.
Thus, there exists a need for a currency note denominator and validater which is more accurate, has greater capabilities, is faster, smaller in size, and lower in cost.